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Analysis of Trades and Advice on Trading the Euro Currency
Testing the price level of 1.0518 coincided with the moment when the MACD indicator had just begun moving downward from the zero mark. This confirmed a correct entry point for selling the euro in continuation of the downward trend...
In my morning forecast, I focused on the level of 1.2758 and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened. A breakout and retest of 1.2758 from below provided an excellent entry point for selling the pound, resulting in a significant...
In my morning forecast, I focused on the level of 1.0501 and planned to make trading decisions based on it. Let's look at the 5-minute chart to analyze what happened. A breakout and retest of 1.0501 from below provided a good entry point to sell the euro, but no significant sell-off followed. As...
On Tuesday, the EUR/USD pair reversed in favor of the U.S. dollar and consolidated below the 323.6% corrective level at 1.0532. This suggests that the downtrend could continue toward the next target at 1.0420. Recent market movements have been modest, but the bears have started to gain an edge...
On the hourly chart, the GBP/USD pair rebounded from the support zone of 1.2709–1.2734 on Tuesday, showing some upward movement. However, the resistance zone at 1.2788–1.2801 was not reached, and no sell signals were formed. The pound has been trading sideways for three days. Currently, trading...
Analysis of Tuesday's Trades
1H Chart of GBP/USD
On Tuesday, the GBP/USD pair continued to trade with a minimal upward bias. The pound sterling is rising again, even when the euro is falling or stagnant. While the euro has been trading in a flat range for three weeks, the pound has shown weak...
Analysis of Tuesday's Trades
1H Chart of EUR/USD
On Tuesday, the EUR/USD pair continued to move downward after repeatedly failing to break the 1.0596 level. The pair has been trading within a horizontal channel for several weeks, clearly visible on the chart above. Neither Monday nor Tuesday...
With the appearance of hidden deviations between the price movement of the GBP/AUD cross currency pair with the Stochastic Oscillator indicator on the 4-hour chart, it has confirmed that in the near future GBP/AUD is still in a strengthening condition, even if there is a weakening, it is only a...
If we look at the 4-hour chart of the AUD/JPY cross currency pair, even though it is in a condition dominated by sellers, there is a deviation between the price movement of AUD/JPY which makes Lower-Low while the Awesome Oscillator indicator on the contrary forms Lower-High which gives an...
Investors' gradual shift away from risk continues. Yesterday, the U.S. stock index S&P 500 fell by 0.30%, and the euro followed suit, losing 24 pips, albeit within the context of anticipation for the European Central Bank meeting.
The November U.S. CPI report will be released today. The Core...
On Wednesday, the pound gained 21 pips despite the U.S. dollar index strengthening by 0.26%. While this upward move shows potential, it remains unpromising, as U.S. inflation data and the Bank of Canada's rate decision are expected today. The November U.S. CPI is forecast to rise from 2.6% YoY...
Over the past two days, the USD/JPY pair has reached an intermediate resistance level at 152.16 as it moves toward the target of 153.60. However, the situation suggests that the 153.60 target may not be achieved. This is indicated by the Marlin oscillator, which is rising ahead of the market and...
The GBP/USD currency pair remains above the moving average line, indicating that the local upward trend remains intact. However, we have repeatedly reiterated that any growth in the British pound at this stage is merely a correction, and we maintain this stance. After two consecutive months of...
On Tuesday, the EUR/USD pair began a gradual decline. The price slipped slightly below the moving average line, and the week lacked any significant fundamental or macroeconomic events. As a result, there is little to analyze in the current market environment—no news, reports, speeches, just...
GBP/USD 5-Minute Analysis
On Tuesday, the GBP/USD pair traded sideways for most of the day. While the euro showed a confident decline, possibly even resuming its downtrend, the British pound held steady, defying expectations. As we've mentioned repeatedly, the British currency in 2024...
EUR/USD 5-Minute Analysis
On Tuesday, the EUR/USD pair began its decline during the European trading session. The only economic release of the day, Germany's Consumer Price Index, cannot be attributed as the cause of the euro's fall, as it was a second estimate aligned with forecasts...
In a notable rise that signals growing interest in refinancing, the U.S. Mortgage Refinance Index has climbed significantly to 634.0 as of December 11, 2024. This is a marked increase from the previous figure of 498.5, underscoring a robust surge in refinancing activity across the nation.
The...
The NZD/USD downwards trajectory continues to test the willpower of technical traders as financial institutions have produced new long-term lows amidst obvious nervous sentiment.
The USD/ILS has displayed the ability to challenge long-term lows as behavioral sentiment in financial institutions has taken on improved perspectives and the new price realm is getting tested.
The big round number is a major pivotal point, strong US CPI data today might cause a bearish breakdown below this level in line with the long-term trend.
During my daily analysis of the major currency pairs around the world, the USD/CHF pair has captured my attention as we have seen a fairly significant bounce during the trading session on Tuesday.
In my daily analysis of exotic currency pairs, the USD/MYR currency pair has caught my attention as we are sitting between 2 of the biggest moving averages that traders follow.
In my daily analysis of the GBP/JPY pair, we have seen a lot of strength coming out of the British pound, or perhaps more to the point, we have seen a lot of weakness coming out of the Japanese yen.
During my daily analysis of Bitcoin, the first thing I noticed is that we of course are dropping again, and it looks like the $100,000 level will continue to see a lot of selling pressure.
US CPI Seen Rising From 2.6% to 2.7%; Bank of Canada Expected to Cut Rates by 0.50%; AUD/USD Reaches 4-Month Low; Cocoa Futures Hit 7-Month High Following Strong Gains
This Monday, as part of the weekly market review and analysis, we examined the price action on the EURUSD chart across the different timeframes. While the short-term direction appears to be bearish, the long-term sentiment remains bullish, especially on the weekly and daily timeframe charts...
Trading in the forex markets were subdued in the Asian session. Low activity is expected to persist for the rest of the day due to a light economic calendar. Dollar remains resilient, supported by expectations that the incoming US administration will favor a strong currency. While the sharp drop...
The pivotal US non-farm payroll report today stands at the center of market focus, with its implications likely to influence both the Fed decision outlook, but probably more on January meeting than this month’s. Fed fund futures indicate a 70% probability of a 25bps rate cut this month, up from...
Trading in the forex markets were subdued in the Asian session. Low activity is expected to persist for the rest of the day due to a light economic calendar. Dollar remains resilient, supported by expectations that the incoming US administration will favor a strong currency. While the sharp drop...
RBC preview the December 17-18 Federal Reserve Federal Open Market Committee (FOMC) meeting, expecting a 25bp rate cut at this meeting and then again at the January 31-February 1 2025, meeting
pace of easing has already slowed
recent communications from Fed speakers continue to hint at further...
I posted a preview of the Reserve Bank of Australia yesterday. The TL;DR is watch the statement:
Reserve Bank of Australia meeting on Tuesday, December 10, 2024 - Statement/Bullock focus
As for China ... sheesh ... slipping back towards CPI deflation, PPI has been deflating for 26 months in...
Prior +2.8%
Market index 225.5 vs 213.9 prior
Purchase index 154.9 vs 161.5 prior
Refinance index 634.0 vs 498.5 prior
30-year mortgage rate 6.67% vs 6.69% prior
There's a bit of a caveat to the latest jump in mortgage applications in the past week. Purchase activity declined but that was more...
There are just a couple to take note of on the day, as highlighted in bold.
And they are both for EUR/USD at the 1.0490-00 levels. With sellers back in near-term control again as price action is below both the key hourly moving averages, it puts focus on the figure level - where price was...
There are arguably just two to take note of on the day, as highlighted in bold.
And they are both for EUR/USD at the 1.0500 and 1.0600 levels, sandwiching the current spot price. That should help keep price movements in the pair more limited before the expiries roll off, with larger ones also...
There aren't any major expiries to take note of on the day. As such, trading sentiment will start to move towards focusing on the US inflation data later this week as well as key central bank meetings over coming two weeks. The dollar remains vulnerable after the non-farm payrolls report on...
There is arguably just one to take note of in the day ahead, as highlighted in bold.
That being for EUR/USD at the 1.0600 mark. The expiries there alongside some short-term resistance around 1.0590 could well help to keep any upside price action more limited, as we gear towards the US jobs...
There are a couple to take note of on the day, as highlighted in bold.
They are for EUR/USD and layered in between 1.0500 through to 1.0550. As such, the expiries could play a role in terms of limiting price movements during the session ahead. That at least until we get to the US weekly initial...